Brazilian central gov't posts highest primary surplus in two years

13:47, May 27, 2010      

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The Brazilian central government posted in April a primary budget surplus of 16.6 billion reais (8.94 billion U.S. dollars), the highest since April 2008 and the second highest since 1997, the Treasury Department said on Wednesday.

The jump reflects both an increase in economic activity and the recent budget cuts determined by the government, the department said.

In March, the central government registered a primary deficit of 4.6 billion reais (2.47 billion U.S. dollars).

The accumulated primary surplus registered in the first four months of 2010 reached 24.7 billion reais (13.3 billion U.S. dollars), up 26.5 percent from the same period in 2009, also surpassing the 18 billion reais (9.69 billion U.S. dollars) target set by the government for the period. The amount represents 2.3 percent of Brazil's GDP, up from 2.02 percent in the same period in 2009.

In 2010, the Brazilian central government expects to post a primary surplus of 71.8 billion reais (38.68 billion U.S. dollars), or 2.15 percent of the GDP.



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